Mytheresa Group, an online retailer of luxury clothing and items, has announced that it’s confidentially filed for a public offering on a US stock exchange. The company has submitted a draft F-1 filing to the U.S. Securities and Exchange Commission (SEC), such filing usually followed by a soon public S-1 filing that’ll give a peek into its financials.

Mytheresa is an online luxury retailer based in Germany. It offers items from about 250 of the world’s biggest luxury fashion brands including Gucci, Burberry, Prada, and Dolce&Gabbana. 

Mytheresa is controlled by the Neiman Marcus Group, which paid the equivalent of $253 million to acquire it in 2014. Neiman Marcus notably filed for Chapter 11 bankruptcy in the US this July after getting hit hard by dwindling physical retail activity due to the coronavirus pandemic. It, however, emerged from bankruptcy just about three months later in September, passing through a restructuring process that eliminated more than $4 billion of debt.

It seems that Neiman Marcus is looking to score a win from Mytheresa on the public markets, given that the company is said to be targeting a valuation of between $1 billion to $1.5 billion for its IPO. Such valuation doesn’t seem far-fetched, given that Mytheresa pulled in 450 million euros ($535 million) in revenue in its most recent fiscal year that ended in June 2020.

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